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PNB raises repo-linked lending rate by 15 bps to 6.8%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The country’s second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.
The country’s second-largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 percent.
All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR.
Meanwhile, the state-owned lender has slashed its base rate by 10 bps to 8.80 percent.
The revised lending rates will be effective from September 1, PNB said in a regulatory filing.
The RLLR has been changed from 6.65 percent to 6.80 percent with effect from September 1, 2020, it said.
The increase in the benchmark is expected to be followed by other lenders as well.
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